BlackRock’s iShares Bitcoin ETF Proclaimed a Resounding Success, Garnering $3 Billion in 2 Weeks of Trading
In an exclusive interview with Yahoo Finance, Rachel Aguirre, the U.S. Head of BlackRock’s iShares Products, expressed her satisfaction with the recent launch and initial performance of IBIT, the spot-based Bitcoin exchange-traded fund.
Aguirre stated unequivocally that the first two weeks of IBIT trading surpassed mere satisfaction, deeming it a “huge success” for the prominent investment management firm. In just under two weeks since receiving approval from the Securities and Exchange regulator, IBIT has witnessed an astounding surge in trading volume, reaching an impressive $3 billion.
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BlackRock’s commitment
Following the ETF’s release, an influx of investor interest translated into over $1.6 billion in inflows, as Aguirre proudly emphasized BlackRock’s commitment to providing investors access to Bitcoin.
Speaking about the current regulatory landscape, Aguirre welcomed recent developments in the U.S. ALso dismissed the notion that SEC Chairman Gary Gensler is a broad-scale adversary to the cryptocurrency industry.
While not directly addressing inquiries about the potential launch of a spot Ethereum ETF, Aguirre asserted that BlackRock consistently strives to anticipate and meet customer needs, showcasing a forward-thinking approach.
Aguirre identified three unique selling propositions (USPs) for BlackRock’s iShares Bitcoin Trust (IBIT) related to Bitcoin. Firstly, IBIT significantly enhances Bitcoin accessibility. Secondly, it eliminates the complexities associated with holding Bitcoin directly, such as managing hot and cold wallets and safeguarding passwords. Lastly, Aguirre highlighted iShares’ commitment to delivering quality service to clients.
Currently, BlackRock holds 16,361 BTC to secure its recently introduced spot Bitcoin ETF, reinforcing the company’s dedication to cryptocurrency investment.
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